I analyze the matching process in the Spanish labor market from 1994-2005. I use monthly registered unemployment data and refer solely to public employment intermediation. This period reflects an upward movement along a downward sloping Beveridge curve; therefore, major changes in the process efficiency should not be observed. I narrow the considerations to a job queuing model, which is the most relevant description of the labor market matching process in Spain, according to the literature. I apply various quantitative methods to address the problem of non-stationary data. The Engle- Granger estimates emphasize the crucial role of the demand in generating the outflows from unemployment to employment. The ECT coefficient confirms that the model efficiently approaches the new equilibrium. These findings confirm that job seekers find themselves on the disadvantaged side of the market and compete for scarce job offers, which, in turn, are ascribed randomly to the workers. The diagnostic tests of the VAR models question the relevance of a multivariate space analysis because the outflow from unemployment to employment appears to be the sole endogenous variable.

中文翻译：

---

西班牙的聚合匹配。使用协整技术进行时间序列分析

我分析了 1994-2005 年西班牙劳动力市场的匹配过程。我使用月度登记失业数据，仅指公共就业中介。这一时期反映了沿着向下倾斜的贝弗里奇曲线的向上运动；因此，不应观察到工艺效率的重大变化。根据文献，我将考虑范围缩小到工作排队模型，这是对西班牙劳动力市场匹配过程最相关的描述。我应用各种定量方法来解决非平稳数据的问题。Engle-Granger 的估计强调了需求在产生从失业到就业的流出中的关键作用。ECT 系数确认模型有效地接近新的平衡。这些调查结果证实，求职者发现自己处于市场的不利地位，并争夺稀缺的工作机会，而这些工作机会又被随机分配给工人。VAR 模型的诊断测试质疑多元空间分析的相关性，因为从失业到就业的流出似乎是唯一的内生变量。